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|It was a sixth positive week after 4 consecutive negative weeks for the AbbVie (ABBV). During the week, the ABBV gained 1.80 points, or 1.73%, and closed at 105.98 on Friday, May 18, 2018. Weekly volume was 22% above average. |
Long-term trend: [See ABBV long-term trend chart]
A long-term uptrend had started on October 28, 2016 at 55.06 and reached 125.86 on January 26, 2018. ABBV gained -70.80 points, or -128.59%, in 65 weeks. The price is now at the 28.08% retracement level.
Medium-term trend: [See ABBV medium-term trend chart]
A medium-term downtrend had started on January 26, 2018 at 125.86 and reached 88.22 on April 3, 2018. ABBV lost 37.64 points, or 29.91%, in 9 weeks. The price is now at the 47.18% retracement level.
Weekly Technical Indicators: [See ABBV weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 16, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See ABBV short-term trend chart]
A short-term uptrend had started on April 3, 2018 at 88.22 and reached 106.78 on May 18, 2018. ABBV gained -18.56 points, or -21.04%, in 45 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (102.06) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See ABBV daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 11, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.